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Qatar Chamber of Commerce and Arab American Chamber of Commerce Hold Meeting

posted on: Oct 22, 2011

A meeting was convened at the headquarters of the Qatar Chamber of Commerce and Industry (QCCI) here on Thursday between the QCCI delegation and representatives of the Arab-American Chamber of Commerce (AACC) currently visiting Doha to explore investment opportunities available in several economic activities in the two countries.<br><br>The QCCI board member HE Sheikh Hamad Bin Ahmed Bin Abdullah Al Thani who leads the Qatari side to the meeting said in an address that the QCCI is always seeking to further promote ties of cooperation between the two sides noting that creating a adequate atmosphere would be a logical prelude to establishing strong economic and growing base that pave the way for strategic partnership between them. <br><br>The QCCI board member expressed his delight that the concerned authorities in the State of Qatar spare no effort to further develop its economic environment in line with the expectations held for the Qatar National Vision 2030, as well as developing and updating the legal practices and legislations in the state to cope with the best international practices, as well as developing and easing the systems and procedures for business and enhance the confidence of investors.<br><br>The AACC , set up 40 years ago has been keen to act as a bridge for communication between the United states and the Arab world but if failed to set up strategic relations between the two sides and has not lived up to the ambitions and capabilities the two sides possess, HE Sheikh Hamad bin Ahmed bin Abdullah al-Thani . <br><br>In his address, Sheikh Hamad bin Ahmed bin Abdullah al-Thani reviewed, the economic developments and prosperity Qatar has recently witnessed thanks to the expansion in haydrocarbon energy production and Qatar s adoption of financial policies supportive to economic growth, noting that Qatar s economy has become one of the most accelerating economies worldwide. <br><br>Sheikh Hamad bin Ahmed bin Abdullah al-Thani highlighted the state’s support to the private sector and its plans to spend $140bn for renovating the infrastructure in the next ten years. He also mentioned that Qatar has earmarked $60bn to host the 2022 FIFA World Cup. <br><br>The QCCI board member HE Sheikh Hamad Bin Ahmed Bin Abdullah Al Thani further said, “Qatar is now turning its attention to the non-oil sector, with heavy investment planned in key infrastructure facilities such as roads, ports, clubs, airports, rail networks and facilities for the 2022 FIFA World Cup… Qatar has also been developing and expanding the gas sector, he added. <br><br>He went on to say, ”The country has become the biggest LNG exporter in the world with its total LNG production reaching 77mn tonnes per year last year. “It is worth mentioning that Qatar s LNG production grew from 37.1mt per annum in 2009 to 64.2mt by end-2010, and reached 77mt by Q1-2011. It is now the world’s largest LNG producer,” he said. <br><br>For his part, the AACC board chairman, David Philips highlighted the strong economic relations between Qatar and the US referring to the growing investment and trade exchange between the two countries recently. <br><br>He pointed out that the aim of the AACC delegation s visit to Qatar was to seek available investment opportunities between the Qatari and US businessmen. <br><br>He is expressing the AACC’s willingness to do its best to enhance cooperation between the Qatari private sector and its American counterpart.

Middle East North Africa Financial Network